Israel-Indian JV to make Small Arms

Punj Lloyd Ltd has established a 51:49 joint venture with Israel Weapon Industries (IWI). The JV will manufacture components in the first phase for export to Israel, in which nearly 80 per cent of the components of the guns will be made in India.

In the second phase, full guns will be made here for supplying to the security forces.

“This JV will be key in enabling India to leapfrog to a higher technological threshold through the adoption of advanced defence technologies.